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2013 (7) TMI 40 - AT - Income TaxRectification of mistake - Cancellation of interest charged – Held that:- Assessing Officer made order u/s. 220(2) levying interest on outstanding demand tax – assessee claimed interest on seized material kept with Department and requested to adjust interest levied u/s. 220(2) against interest accrued on seized material – No appeal prescribed against order made u/s. 220(2) – As assessee is required to point out any mistake apparent from record but assessee failed to point out any mistake apparent from order – No infirmity in CIT’s order – Following the decision of Hariharnath Agrawal & Sons (HUF) vs. CIT [1996 (2) TMI 96 - ALLAHABAD High Court] and Shri Ganesh Enterprises (P) Ltd. vs. Union of India [1994 (5) TMI 20 - DELHI High Court] – Appeal dismissed. Quantum of interest charged – Assessing officer failed to consider relevant facs – Held that:- relief granted by CIT in other assessment year therefore for the assessment year 1998-99 liability for tax and interest would reduce – assessee entitled for relief in respect of interest levied u/s. 220(2) – Appeal allowed.
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